Silver up 4% on second wave, stimulus bill concerns

Friday, 09. October 2020 19:35

The price of silver surged more than 4% on Friday as the investors turned to safe-haven assets amid fears of the effects that the coronavirus' second wave could have on the economy and the markets.

Moreover, even though United States President Donald Trump expressed optimism in regards to the negotiations on the coronavirus stimulus bill, a report emerged claiming that the Senate Republicans would oppose a deal even if the House Democrats and the White House agreed on one.

The price of silver jumped 4.43% at 1:31 pm ET to sell for $24.89 per ounce, while the gold advanced by 1.48% a minute later, to sell for $1,921.44 per oz. Meanwhile, platinum gained 2.25%, trading for $886.66 per ounce at 1:33 pm ET while palladium rose by 2.78% to $2,448.56 per oz at 1:34 pm ET.

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Breaking the News / BU